For the financial year 2017-18, the combined annual compensation of Onkar Singh Kanwar and his son Neeraj Kanwar stood at Rs 87.74 crore, a little less than a 10 per cent of the consolidated net profit for the year.

The unusually high compensation of managing director Neeraj Kanwar had forced minority shareholders in September-end to vote against his reappointment on the same position for a fresh term of five years. Neeraj Kanwar's current term ends in May 2019.

Apollo Tyres is setting up Europe's largest greenfield plant in Hungary with an investment of 475 million euros to produce nearly 62 lakh tyres for passenger cars and heavy commercial vehicles per annum.